Business & Economy

Peruvian minister assures that his country offers legal stability to investors

Madrid, Oct 3 (EFE).- Peru’s Minister of Foreign Trade and Tourism, Juan Carlos Mathews Salazar, said Tuesday that the South American country offers “the two fundamental things for any foreign investment to be established: economic stability and legal certainty” to companies that plan to invest there.

In an interview with EFE, the minister stressed that while the world is facing a recession this year, Peru “will continue to grow, a little, around 1 percent, but it will continue to grow,” and 2024 will be “very attractive” for investors: “it will be the year of hope.”

Mathews Salazar is in Spain accompanied by 50 Peruvian companies participating in Fruit Attraction 2023, the fruit and vegetable fair being held at IFEMA trade fair grounds in Madrid from October 3 to 5.

The fruit and vegetable sector has been, in the words of the minister, one of those that have experienced the greatest growth in Peruvian exports, especially in products called ‘superfruits’, characterized by having therapeutic properties.

“Sales expectations for these products are 120 million dollars -about 115 million euros- for this year, worldwide”, he explained.

Investment opportunities

As part of his schedule, tomorrow Mathews Salazar will attend the Investment Promotion Seminar in the Spanish capital, organized by Promperu, an agency belonging to the Peruvian Ministry of Foreign Trade and Tourism, with which EFE has a content distribution agreement.

At the event, he will explain the progress of the Peruvian economy and the best “investment opportunities” for foreign investment, which he says are healthcare -especially primary healthcare- education, infrastructure, and technology.

The minister added that “there are several areas where there is the possibility of direct foreign investment or joint ventures with Peruvian companies, for example, fruit, vegetables, natural dyes, cocoa and organic bananas, coffee and other sectors in which foreign investment is already growing, such as textiles and clothing.”

In textiles, he pointed out that its strength lies in having “good raw materials: cotton and fine alpaca and vicuña wool, for which we are interested in attracting investment.”

The politician emphasized the Peruvian government’s effort in infrastructure to turn the country into a Latin American hub.

In this regard, he revealed that Peru has 22 free trade agreements with 58 countries, which will shortly, once the negotiations are finalized, include three more, “specifically Hong Kong, India and Indonesia.”

Mathews Salazar described his country as one of the “most open” economies, which offers, in his opinion, “good opportunities to use Peru as a platform to reach these nations” and, therefore, receive foreign investment.

The presentation of these opportunities in other potential countries or investment agents has led him to travel this year to Washington, New York, Stuttgart, Miami, Madrid, London and Los Angeles. EFE


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